SMM April 21 News:
The most-traded SHFE zinc 2506 contract opened at 22,230 yuan/mt. In the early session, SHFE zinc fluctuated around 22,180 yuan/mt, then bulls increased their positions, pushing SHFE zinc to a high of 22,465 yuan/mt. It finally closed at 22,395 yuan/mt, up 345 yuan/mt, a gain of 1.56%. The trading volume increased to 195,000 lots, while the open interest decreased by 3,590 lots to 126,000 lots. According to SMM data, as of this Monday, domestic social inventory recorded 93,000 mt. The continuous decline in inventory still supports zinc prices, coupled with the current excessive macro uncertainties, zinc prices are expected to remain volatile in the short term.
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